Rosenblatt Securities Boosts Atlanta Braves (NASDAQ:BATRK) Price Target to $75.00

Atlanta Braves (NASDAQ:BATRK) had its price objective hoisted by Rosenblatt Securities from $69.00 to $75.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Rosenblatt Securities’ price objective indicates a potential upside of 70.88% from the company’s previous close.

Several other equities analysts have also weighed in on BATRK. Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a report on Friday, March 27th. Wall Street Zen lowered Atlanta Braves from a “hold” rating to a “sell” rating in a research note on Saturday, March 14th. Finally, Zacks Research upgraded Atlanta Braves from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.00.

Atlanta Braves Stock Performance

Shares of BATRK stock opened at $43.89 on Thursday. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of -112.54 and a beta of 0.53. Atlanta Braves has a 52 week low of $35.46 and a 52 week high of $47.18. The firm’s 50-day simple moving average is $42.22 and its two-hundred day simple moving average is $40.63.

Atlanta Braves (NASDAQ:BATRK) last released its earnings results on Wednesday, February 25th. The financial services provider reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.38. The company had revenue of $61.30 million for the quarter, compared to the consensus estimate of $54.93 million. Analysts forecast that Atlanta Braves will post -0.89 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder John C. Malone purchased 35,000 shares of Atlanta Braves stock in a transaction dated Thursday, February 5th. The stock was purchased at an average cost of $44.23 per share, for a total transaction of $1,548,050.00. Following the transaction, the insider directly owned 521,862 shares of the company’s stock, valued at approximately $23,081,956.26. This trade represents a 7.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Atlanta Braves

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Atlanta Braves by 12.8% during the fourth quarter. Vanguard Group Inc. now owns 2,789,084 shares of the financial services provider’s stock worth $110,029,000 after buying an additional 317,065 shares in the last quarter. Hawk Ridge Capital Management LP raised its holdings in shares of Atlanta Braves by 16.5% in the 4th quarter. Hawk Ridge Capital Management LP now owns 2,661,429 shares of the financial services provider’s stock valued at $104,993,000 after acquiring an additional 377,307 shares in the last quarter. Broad Bay Capital Management LP boosted its position in shares of Atlanta Braves by 11.9% during the 4th quarter. Broad Bay Capital Management LP now owns 2,202,745 shares of the financial services provider’s stock valued at $86,898,000 after acquiring an additional 233,771 shares during the last quarter. CI Investments Inc. boosted its position in shares of Atlanta Braves by 1.0% during the 4th quarter. CI Investments Inc. now owns 1,699,739 shares of the financial services provider’s stock valued at $67,055,000 after acquiring an additional 16,404 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in shares of Atlanta Braves by 1.2% during the second quarter. Gamco Investors INC. ET AL now owns 1,452,088 shares of the financial services provider’s stock worth $67,914,000 after purchasing an additional 16,663 shares in the last quarter. Institutional investors own 64.88% of the company’s stock.

Atlanta Braves Company Profile

The Atlanta Braves Real Estate Ownership Trust (NASDAQ:BATRK) is a publicly traded real estate investment trust established in 2021 by Liberty Braves Group. The trust’s primary purpose is to own and manage a portfolio of sports and entertainment properties related to the Atlanta Braves baseball franchise. BATRK generates stable rental income by leasing its assets to the Braves Baseball Club, LLC, under long-term lease agreements designed to align property performance with franchise needs.

The trust’s portfolio is anchored by Truist Park, the 41,084-seat baseball stadium that has served as the Braves’ home since 2017.